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Bull signals failed. Bias bear to 3900.

Today we had a failure of the easy bull patterns and triggered the short re-entry.

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This could just be a bear trap, as shown in the blue circle - but that would imply a hard down first.

https://preview.redd.it/7h5chf566nia1.png?width=1218&format=png&auto=webp&v=enabled&s=5c4b763fcd491945b5e3853c7a27d91cb6e92041

Read work for this analysis here.

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Read work for this analysis here.

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What the market does around 3800 - 3900 is probably critical to the long-term trend. Major decisions will be made there. Reasonably good chance we get to there without getting over 4150 again at this point. Bears can re-position here and decide what to do if we get to 3950.

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Will update upon the hitting of a critical level.



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